Customizable Flex Space
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4301 Home Road #14P, Powell, OH 43065
New 1200 SF customizable condominium perfect for personal storage.
Property Size1,200 SF
Price / SF$204.58
Days on Market189
Property Features for 4301 Home Road #14P
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Mixed Use
Building Details
Year Built
2025
Listing Agency:
Red 1 Realty
Listed By:
Joe Wood · License #2023007001
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 10 at 10:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Red 1 Realty
Investment Insights
Based on property information with market context.
This 1200 SF condominium offers a fully customizable space suitable for personal storage. The unit features painted walls, multiple outlets, a large overhead door with an opener, a high corrugated steel ceiling, a heater, and bright LED lighting. The interior can be customized with a mezzanine, bathroom (rough-ins available), or kitchenette. Horsepower Farms provides WIFI, gated security, surveillance cameras, and 24-hour access, including a clubhouse with restrooms, a kitchenette, a lounging area, and a patio that can be reserved for personal events. The HOA fee covers water, WIFI, ground maintenance, trash, and insurance. Owners are responsible for electric, gas, property taxes, and insurance for personal items. This condominium is for personal use only and is not intended for business operations or residential living.
Key Highlights
- 1200 SF customizable space perfect for car/RV/boat storage or hobbies.
- Benefit from gated security, surveillance cameras, and 24‑hour access.
- Clubhouse access with restrooms, kitchenette, lounging area, and reservable patio.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,165
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$183,300
$183.3K
Cap Rate 7%
$130,929
$130.9K
Cap Rate 9%
$101,833
$101.8K
Market Conditions
NOI Build-Up for 1,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.5K $9.60/SF
− Vacancy
−$737 −$0.61/SF
EGI
$10.8K $8.99/SF
− OpEx
−$1.6K −$1.35/SF
NOI
$9.2K $7.64/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$183,300
Cap Rate 7%
$130,929
Cap Rate 9%
$101,833
Alternative Uses
Best Use
Warehouse
$130.9K
$114.6K – $152.8K
NOI $9,165 @ 7.0% cap · market cap 3.73%
Second Best
Industrial
$107.8K
$94.4K – $125.8K
NOI $7,548 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$237.3K
$207.6K – $276.8K
NOI $16,608 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43065, OH
44,829
Population
17,468
Households
2.6
Avg Household Size
41
Median Age
68%
College-Educated
98%
High-School Grad
28.1 sq mi
ZIP Area
1,595
Density / Sq Mi
$154,797
Median Household Income
$83,357
Median Earnings
$1,811
Median Rent
$451,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New 1200 SF customizable condominium perfect for personal storage.
Where is this flex space located?
The property is located at 4301 Home Road #14P Powell, OH.
What is the asking price?
The asking price for this property is $245,500.
What are key features of this property?
This property features: 1200 SF customizable space perfect for car/RV/boat storage or hobbies.; Benefit from gated security, surveillance cameras, and 24‑hour access.; Clubhouse access with restrooms, kitchenette, lounging area, and reservable patio.
